Pork: Bears still in control of the “other white meat”

Market Pulse for March 25

Last week April Lean Hogs opened at $79.625 and closed the week at $79.400. For the month of February this contract opened at $89.350 and closed the month at $81.000.

Cold Storage

For weeks now we have been hearing about drops in foreign and domestic demand for pork. The cold storage report this past Friday reflected this with an increase of frozen pork of 5% from last months. Stocks of pork bellies were up 17% from last month. The report showed 636.7 million pounds of pork in freezer warehouses which is the all time high for this time. Below are the largest pork producers for 2013. So where are all the Easter hams?